Securitas, a Swedish intelligent protective services partner, has signed a deal to acquire Turkish electronic security company Tepe Güvenlik for around €10 million.

The Swedish electronic security solutions said that the deal will help it become the second ranked player in the monitoring market in Turkey.

Securitas further stated that the acquisition aligns with its strategy of doubling its sales of security solutions and electronic security in the next couple of years.

The annual sales of Tepe Güvenlik in 2020 were nearly €8.5 million, of which recurring monthly revenue made up more than 70%.

The Turkish electronic security company has a workforce of 250 people. Its operations are primarily in Ankara and Istanbul, which include an operation center as well as a nationwide technical service network.

Tepe Güvenlik caters to corporate clients, SMEs, and residential customers with electronic security solutions, alarm systems, and alarm monitoring. It has over 50,000 connections, which is said to represent a considerable addition to the existing connection base of Securitas in Turkey.

Peter Karlströmer — Securitas Divisional President Security Services Europe said: “This is a unique acquisition opportunity in the Turkish alarm monitoring market and will consolidate Securitas position in this space. We are pleased to welcome Tepe’s experienced team to Securitas and look forward to further developing our presence in and bringing innovations and solutions to our clients.

“This is a strategic milestone for our business in Turkey, significantly strengthening our security solutions and electronic security footprint in the country.”

Subject to approval from competition authorities, the acquisition is anticipated to be wrapped up during Q3 2021.

Earlier this week, Securitas signed a deal worth around €72 million to acquire Germany-based Protection One, a provider of remote technology-driven security solutions and electronic security.

  Peter Karlströmer, Protection One, Securitas, Sweden, Tepe Güvenlik, Turkey